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Orient Overseas hit with big loss from container downturn

Container:

The downturn in the container industry would have taken an even bigger toll on the half-year results from Orient Overseas in Hong Kong, had it not been for earnings from its logistics activities and the famous New York hotel Plaza.


BY OLE ANDERSEN
Published 08.08.16 at 13:56

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No Plan B for Maersk Line if Hamburg Süd acquisition fails

maerskline-aarhus.jpg Container:

There are no other interesting acquisition candidates for Maersk Line if the Hamburg Süd purchase fails, says Lars Jensen, CEO of Seaintelligence Consulting. Instead, the carrier will have to do what it should have done a long time ago, he tells ShippingWatch.

CMA CGM beats all rivals on earnings

Container:

Carriers such as Maersk Line, Hapag-Lloyd and Cosco have distanced themselves from France's CMA CGM, which in the second quarter stood out as the best-selling container shipping company in the top 20.

Maersk Line's acquisition of Hamburg Süd lacks one crucial approval

Container:

Eight months after sealing the acquisition of Hamburg Süd, Maersk Line is still waiting for one crucial approval from regulators in Brazil.

Hyundai Merchant Marine expects financial turnaround next year

Container:

Hyundai Merchant Marine, a cooperation partner of Maersk Line and MSC's 2M alliance, is experiencing significant growth, triggered by lower costs and a stronger result, says CEO.

Hamburg Süd reveals first insights into Maersk Line deal

Container:

Hamburg Süd's current and coming chairman, Ottmar Gast and Arnt Vespermann, have unveiled hitherto unknown details about the billion-euro sale to Maersk Line. A virtual room with access to 20,000 documents has played an important role.

Dockworkers block automation of vehicles in West Coast ports

Container:

The powerful US dockworker union ILWU has succeeded in slowing the development towards automation in Los Angeles and Long Beach. A new law holds that environmentally-friendly vehicles in the ports must not be fully automated or remote controlled in order to secure subsidies.

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Maersk sells to family in a buyer's market

Maersk Tankers slæbebåd towage Tanker:

Maersk Tankers has been sold to the Maersk family's holding company at a time when investors are staying far away from product tanker. But the carrier could be sold on when the market recovers, analysts say.

Dockworkers block automation of vehicles in West Coast ports

Container:

The powerful US dockworker union ILWU has succeeded in slowing the development towards automation in Los Angeles and Long Beach. A new law holds that environmentally-friendly vehicles in the ports must not be fully automated or remote controlled in order to secure subsidies.

Dry bulk shipowners have drained yards' newbuild stockpiles

Carriers:

Shipyards have virtually no newbuild resale vessels left from canceled contracts to sell, says Celsius Shipping CEO Jeppe Jensen.

A.P. Moller Holding A/S buys Maersk Tankers

Tanker:

The Maersk family's A.P. Moller Holding buys Maersk Tankers for USD 1.17 billion, informs the holding company Wednesday.

Saadé: Container stronger than it has been for years

Container:

The chief executive of France's CMA CGM, Rodolphe Saadé, sees no crises in the years to come for container carriers, which are currently benefiting from consolidation and stronger economic growth.

Kuehne + Nagel heralds more acquisitions

Services:

Transport and logistics firm Kuehne + Nagel is hosting its capital markets day in London, and the group has heralded news about its strategy plan.

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